Chapter 9 Bankruptcy: Creditors Suffer Major Losses, Pensioners Largely Unharmed
Created on December 10, 2015
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Historically, Chapter 9 bankruptcy has not been a balanced way to pay off city debt. In many cases, bondholders lose more than half of their investments while pensioners receive either full benefits or marginal cuts.
Source: Ellie Ismailidou, “The Next Greece May Be in the U.S.,” MarketWatch, June 30, 2015, http://www.marketwatch.com/story/these-lurking-debts-may-turn-us-cities-states-into-greece-2015-06-30 (accessed December 9, 2015).
CHART 2 • IB 4493
Tags: Puerto-Rico, Macri, medicaid